Market Conditions for 48419

November 2017

Median Sale Price

$132,000

UP UP 124.10% vs. Month Ago

Homes For Sale

7

DOWN DOWN -22.22% vs. Month Ago

Homes Sold

1

NO_CHANGE 0.00% vs. Month Ago

Average Days On Market

59

UP UP 55.26% vs. Month Ago

Median Sale Price

$132,000

The median sale price for homes in November was $132,000. The median sales price for homes in November rose by $73,100 compared to last month. This represents a 124.1% increase from October. Compared to the same month last year, the median price of homes rose by $52,100 representing a 65.2% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale

7

The inventory of homes for sale fell by 2 in November to 7. This represents 22.22% decrease from October when 9 homes were on the market.Compared to the same month last year when there were 10 homes for sale, the inventory of homes for sale has fallen by fallen by 3 representing a -30% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold

1

The 1 homes sold in November was the same as in October. Compared to the same month last year, the number of homes sold did not change 0, a 0% year-over-year .

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Average Days on Market

59

The average days on market for a home sold in November (59) increased by 21 days compared to October. This represents a 55.26% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 37, a -38.54% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

88.59%

The Sale/List Price Ratio of 88.59% in November fell by 9.9% compared to October and decreased 6.9% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes

1

The number of homes listed in November (1) remained level Compared to November 2016, the number of new listings remained level

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price

$189,000

The median list price in November was $189,000. The median list price for homes in November rose by $99,100 compared to last month. This represents a 110.23% increase from October. Compared to the same month last year, the median list price of homes decreased ($140,000) representing a -42.55% year-over-year decrease.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.